There are plenty of places where you can lease a car, including one of your local Indianapolis car dealerships. But the question may be asking yourself is whether leasing a car is right for you. What should you expect when you lease a car? It will take some research and a solid understanding of leasing versus purchasing to decide which one is right for you.

1. Expectations with Leasing from Indianapolis Ford Dealers
You may see commercials about leasing cars, but probably don’t know what that
entails. But, leasing has jumped up over four percent in the past year, meaning
approximately 28% of consumers are leasing their cars. The statistics and explanations
below will tell you why leasing is a smart choice for many.
Charges
Many choose to lease a car when the interest rates on loans are higher to save
themselves money. However, it is important to pay attention to other charges that
leasing a car entails. Though you do not have to pay any taxes on the car’s purchase
value, you will be paying on the monthly payments. Over the course of three years,
these extra sales and tax fees can total over $600. Another charge that many leasers
don’t think about is excess mileage. When you write your lease, most allow for a certain
number of miles every year. This used to be 13,000, but has recently dropped as low as
10,000 in some cases. If you do not pay attention to this, you can be paying as much as
25 cents per mile you go over.
Quality
When you are leasing a car, you do not have to worry about the quality. Generally, a
newer, more expensive car such as a BMW is going to be cheaper to lease because the
resale value stays high. Though it used to be that all leased cars were top of the line,
many car dealerships in Indianapolis have started leasing compact cars due to demand.
In 2003, these cars accounted for only 12 percent of leases. Three years ago, that
number jumped up to almost 25%. Purchasing products like Ford Credit's WearCare
can reduce your responsibility for damage and wear and tear to your vehicle.

2. Design Your Contract
It is important to note that you have the opportunity to write your lease contract and
negotiate the terms. As recently as 2007, most leases were contracted to last around 42
months. Now, as consumers do not want to be locked into a car as long you can easily
negotiate a lease for as little as 24 months. You should keep the lease at 36 miles or
less simply because that keeps the car under warranty. Along with the term, you have
the opportunity to negotiate the number of allotted miles, and price of the vehicle. All of
these affect the amount of your monthly payment.
When you are deciding to lease a car, remember you may save money, but leave with
no ownership. Your payments do not work to you having any gain at the end of your
lease. You will, however, have a reliable vehicle with guaranteed maintenance. If you
don’t want to be stuck with the same car long term, leasing is the best option. Your
Bloomington car dealerships can help you design your best contract options.
For more information visit: http://www.bloomingtonford.com/.
Sources:
http://www.forbes.com/sites/jimhenry/2013/06/30/leasing-bounces-back-3/
http://www.cars.com/go/advice/Story.jsp?
section=lease&subject=buy_lease&story=buyLease
http://www.edmunds.com/car-leasing/leasing-is-back-with-some-new-twists.html